NEW ZEALAND - KiwiSaver funds posted positive returns for the first quarter of 2011, with the meidan KiwiSaver growth fund returning 3.8% and the more conservative default median fund returning 1.6%, according to Mercer's KiwiSaver survey.
Funds with a higher allocation to shares and property performed best, Mercer's data showed.
The best performing fund for the quarter was Fidelity Life Aggressive Growth Fund which returned 5.6% for the quarter. In the quarter ending 31 March, the median return of a conservative KiwiSaver fund was 1.8%, while the median balanced fund returned 2.5%.
There are 1.7m KiwiSaver members as of the end of April, according to statistics kept by Inland Revenue.
Martin Lewington, head of Mercer New Zealand said: "Gains from January and February were given back in March as a result of investor nervousness around recent events in Japan and the Middle East and re-emerging concerns about Europe's sovereign debt crisis. Volatility is far from over, and could impact on returns in the upcoming quarter."
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.